With the complexities of investments, taxes, insurance and estate planning, any number of financial issues may arise. Consequently, clients may wish to enlist the help of a financial advisor to discuss their personal needs. A financial advisor can provide advice pertinent to a clients’ current circumstances, typical objectives, plus risk-tolerance level.

Your financial advisor is typically the professional you go to when you are trying to develop a financial plan or make investment decisions. A holistic financial advisor is someone you would go to that takes into consideration all aspects of your financial picture. Your financial advisor will have a fiduciary responsibility towards you, which means they must act in your best interests at all times.

When selecting a financial advisor it is important to understand the qualifications and fees. Many advisors have forged their own paths in the field of financial advising, often attaining certifications from organizations such as the Certified Financial Planner Board of Standards Inc., the Securities and Exchange Commission, or the National Association of Personal Financial Advisors.

In addition to qualifications, ask advisors about their fee structure. Most advisors will charge clients either a fee or a commission. A fee-only compensation structure may mean that the advisor will charge a flat fee for certain services, or a percentage of your assets. On the other hand, a commission-compensation structure might mean that the advisor earns commissions for the sale of certain insurance or securities products.

Financial advice is an important decision. Selecting a financial advisor is an important part of achieving your goals. Make sure to research an advisor’s qualifications, certifications, reputation and fee structure to ensure you’re receiving quality advice every step of the way. An experienced financial advisor is an invaluable source of assistance. Whether you plan to retire in 10 years or just received an inheritance, an advisor is capable of helping you make the most of your financial situation. Choosing the right financial advisor can be the difference between success and failure in reaching your financial goals.